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Milkbasket raises $7 million from Kalaari, others

Press Trust of India  |  Mumbai 

has raised USD 7 million in Series A funding round, led by

Singapore-based and existing investors, and Blume Ventures, also participated in the round, the company said in a release today.

The funds will be used for innovations in supply chain efficiencies and last mile logistics, it added.

Anant Goel, chief executive officer, Milkbasket, said this funding will help the company to continue investing in talent, technology and territory.

With this funding round, the company has raised USD 10 million from Kalaari Capital, BeeNext, Unilever Ventures, and It had also raised USD 1 million in seed and angel investment from a clutch of Chinese venture funds and domestic angels including customers earlier.

The startup claims to have achieved positive unit economics within first six months of inception and offers 'flexi-ordering' till midnight, with delivery by 7 am, with a no-minimum-order and free delivery model.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, May 22 2018. 16:05 IST